H.R. 5719 · 112th Congress
Student Loan Interest Deduction Act of 2012
- Stage
- In committee
- Sponsor
- Charlie Rangel
- Introduced
- 2012-05-10
- Latest action
- 2012-05-10 · Introduced in House
Summary
Student Loan Interest Deduction Act of 2012 - Amends the Internal Revenue Code to: (1) increase the maximum tax deduction for interest paid on any qualified education loan to $5,000 ($10,000 for married couples filing a joint tax return), and (2) repeal the limitation on such deduction based upon modified adjusted gross income. Makes permanent the elimination of the five-year limitation on such tax deduction.